@Melissa Odom Hello Melissa, can you dm me your projects?

Am I just looking at MFH values over the last 24 months and trying to project? 

Your scattered approach is going nowhere fast (analysis paralysis) and is highly likely to result in someone taking advantage of you:(Recommend:1) Figuring out what investment approach suits your skills & risk tolerance2) Determining where in the US to apply your chosen approach3) Learning everything you can about that market4) Networking & building contacts & team in the market5) Doing a "test" investment in that market to make sure your expectations are met6) Investing more if your expectations are met.-- If not, go back to step #1 as you many have chosen the wrong approach!

Purchase price: $131,000 Cash invested: $41,000 Off market deal - Going in this project with an Opportunistic BRRR mind.

Here are some key red flags to watch for:🔴 Lack of experience: A borrower without a proven track record in real estate projects may struggle to navigate unexpected challenges.🔴 Overly optimistic projections: Unrealistic ARV (after-repair value) or underestimated rehab costs can signal poor planning—or worse, a lack of transparency.🔴 Incomplete or disorganized documentation: Missing detailed plans, financial statements, or timelines could mean the borrower isn’t ready to execute the project successfully.🔴 Over-leveraged finances: Borrowers with excessive debt or insufficient personal capital invested in the deal could pose a greater risk of default.🔴 Questionable property comps: Overstated market values or inappropriate comparables may mean they’re inflating expectations.As always, thorough due diligence is your best protection.

This can be far cheaper than having an in-house project manager to do this for you.Based off your statement "this will be my first time managing a renovation out of state", it looks like you are familiar with the renovation process.

Instead, focus on real estate that provides the opportunity to force appreciation or invest in a market with strong growth projections.

Outside of normal deal analysis (market info, cashflow, etc.), are there any particular upsides or downsides of purchasing all single bedroom units vs. a more traditional mix of units for a property that size? 

I would probably focus on three things.  1) filling the vacancy for as close to the old rent as possible (to help with refinancing or selling 2) refinance it and talk to a few different banks/brokers.  3) If all else fails, list it and 1031 into another project. 

U can explore but if you actually want to do a project like this you will need to bring in someone who is experienced and bankable.